The GBPUSD consolidates inside the channel - Analysis - 24-01-2023

The GBPUSD pair tested the intraday bullish channel’s support line and keeps its stability above it, accompanied by witnessing positive signals through stochastic that we are waiting to motivate the price to resume the main bullish trend, which its targets begin by breaching 1.2440 to open the way to head towards 1.2590.

The EMA50 continues to support the suggested bullish wave, noting that breaking 1.2320 will put the price under correctional bearish pressure before turning back to rise.

The expected trading range for today is between 1.2320 support and 1.2480 resistance.

The expected trend for today: Bullish